Egyptian logistics and delivery startup Sprint has secured a six-figure seed funding from an undisclosed angel investor after a USD 1.25 Mn valuation.
With the secured funds, Sprint will advance its growth plans, boost its technology and spread the presence of its hubs across Egypt. The startup currently operates in Cairo but has revealed it has plans to expand to Alexandria, Mansoura, Port Said, and Suez. It’s also intending to hire more talent with its new funding.
Founded in 2018 by Mohammed Deif, the startup reveals it is enjoying a 35% month-on-month growth.
Sprint offers last-mile delivery services for e-commerce merchants and consumers, claiming to make deliveries within 24 hours. It has a bias towards micro-merchants with volumes as low as 30 orders per month.
Mohammed said, “We’re really excited and confident in what we’re building. We’re focusing on improving the e-commerce and logistics ecosystem in the Middle East & North Africa by providing a technology-enabled platform that helps e-commerce merchants enjoy high-value logistics services & solutions regardless of their shipping volume.”
The startup armed with an all-round tech-delivery chain offers GPS tracking of goods, automatic customer notification and API integrations with e-commerce platforms like Shopify and WooCommerce. Users also get shipment exchange and refund options and a variety of cash collection options through their web portal.
